Schlumberger acquires Novatek

The acquisition follows several years of cooperation that have resulted in Schlumberger’s StingBlade conical diamond element bit and that has served to develop ideas being incorporated into Schlumberger’s drilling technology.

“Novatek’s synthetic diamond manufacturing technology is already a key component of our drill bit offering,” said Khaled Al Mogharbel, president, Schlumberger Drilling Group. “With the addition of Novatek, we will enhance our research, engineering, and manufacturing capabilities and continue to work with our customers to accelerate field adoption of these innovative drilling technologies.”